This study deals with investigating determinants of perceived value. Theoretical background suggests that perceived value can be neither uniquely defined nor assumed to be always affected by the same factors. Findings regarding Greek purchasers of online travel services suggest that the relation between perceived value and perceived cost-risk and demographic-cultural characteristics significantly differentiates among groups with different characteristics. Evidence pointing to a non-linear relation between perceived value and its determinants is also provided. Therefore, suggestions for further research focus on the use of statistical methods that assume no linear relation between dependent and independent variables, as well as the use of non-statistical methods that are free from any assumption regarding this relation, to explain perceived value.
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